Most current articles relating to market research would highlight so much on behavioral insights with the thought that the use of traditional surveys and focus groups seem outdated. However, our view is that traditional research methodologies do have its own merit and when used correctly, provides a context to modern research methods like #neuromarketing.

The truth is, marrying traditional research and #neuromarketing delivers rich and actionable customer or business insights. This happens when there is merging of survey data with biometric data that is generated from neuromarketing. #machinelearning algorithms that drive neuromarketing can process millions of records and in this case algorithms can model small yet divergent data with ease. The net result is that models are robust and results are highly reliable.

Along with the robustness of the results, understanding the context surrounding the research findings is important. One of the often quoted limitation of #neuroscience research is finding answers to ‘why’. Measurement of brain waves doesn’t answer all questions pertaining to ‘why’ and is not a sufficient condition.

This is where traditional surveys and human analysis come in handy. Insight professionals can connect the dots of data that isn’t associated with emotions with those requiring explicit answers or those questions which requires human comments.

At the other end of the spectrum, results traditional surveys alone cannot be held as conclusive evidence due to the bias factor and usually entails depth analysis. When the usual questions of awareness, likes and dislikes come up, #neuroscience plays a crucial role.

Answers to #neuroscience questions are devoid of bias and is a great way to examine how a stimulus elicits emotions when being exposed. It can even tell exactly what kind of emotional response your subject has disclosed. This precision factor is an added value as it aids in the understanding of the impact consumer decision.

The point is there is a misconception that, with the advent of cutting-edge research methods, traditional survey methods should be disregarded. This need not be the case. Instead of substituting one research method over the other, both should be utilized hand-in-hand.

Researchers need to leverage the benefits of both methodologies and underlying #machinelearning models to complement each other’s setback. At Stratzie, we have noted the significance of both roles as a crucial necessity to having a holistic result, especially in today’s data rich world.

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Neuromarketing techniques have been used since last two decade, however recently it has caught the attention of marketers – because it pin points the precise reasons of customer thoughts and action.

#Neuromarketing methods like #eyetracking when used in combination with traditional research methods have provided marketers wit rich insights. However, brand tracking methods over the years have remained practically the same – every month or quarter respondents are probed about brand awareness and other factors at a conscious level. The answers on most occasions are on predictable lines. Measuring true brand engagement was always a tricky affair. #Neuromarketing has changed all that. It is able to measure the level of emotional arousal of brand elements with ease in relation to competitive brand set.

In one study neuromarketing methods like #EEG were used to evaluate customer satisfaction with a beauty treatment. Researchers found that customer satisfaction correlated with six emotional states of mind when evaluating facial beauty and brand messages. This brings us to the question: should we disregard conscious answers to brand awareness questions?

The correct answer is brand marketers should view conscious ansers in the context of sub-conscious answers. The other interesting aspect of use of neuromarketing techniques in brand tracking is the use of small sample size that accurately represents the population base. This has been made possible due to the advancecements in #machinelearning techniques. Hence, neuromarketing enables extraction of accurate consumer response that in turn results in better prediction of consumer engagement with the brand.

In this digital age where social media and content is kiing, developing appropriate brand strategy becomes a complex affair. Strategy frameworks will have to frame consumer behaviour issues and will have to accomodate for measurement of consumers’ emotional attachment with brands. It’s here neuromarketing becomes very useful for bradn marketers. Let's study an application of neuromarketing when using Keller's Brand Equity Model. The model has 4 levels, one of which is brand response i.e. what do i think or feel about you? Instead of relying upon stated answers provided by research participants brand marketers can rely on #biometricdata like fixation duration, fixation count, time to first fixation etc to assess the depth of customer affinity.

Stratzie Consulting has developed innovative ways of extracting insights from neuromarketing data and developing smart strategies. Don't hesitate to contact us if you need assistance in resolving marketing issues.

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